A senior unsecured loan of up to EUR 1 million (the "WiB Loan") to be provided in one single tranche under the Western Balkans Women in Business Programme Phase II ("WB WiBP II").
The proceeds will be used to finance eligible women-led SMEs in Montenegro in accordance with the WB WIBP II Policy Statement.
The project aims to promote women entrepreneurship and more broadly women's participation in business, by enhancing access to finance and knowledge to women-led businesses in Montenegro. This will be NLBP's second facility under this product, marking EBRD's continued support to women-led SMEs in Montenegro.
ETI score: 68
The project contributes to the objectives of the WB WiBP II, supporting the Transition Impact qualities of Inclusive and Competitive.
WBWiB PhaseII seeks to (i) increase availability of financing for women-led SMEs and (ii) contribute to the competitiveness of financial institutions by enabling innovation in strategy, products, processes and marketing related to women-led SME lending.
NLBP has already fully utilised a senior loan under the WB WiB Programme II (EUR 2 million under OpID 51231 signed in February 2020). The new WiB Loan is required to top-up the existing WiB loan to continue to NLBP's pilot lending project to tap into women-led SMEs segment in Montenegro under the EBRD programme.
Inclusive: The project will contribute to women's economic inclusion by supporting women-led SMEs' access to finance and business advisory services, while demonstrating the business case for scaling-up lending to the women-led SME segment.
Competitive: Transition impact is expected to derive from market expansion in line with EBRD Financial Intermediaries Framework.
NLB BANKA AD PODGORICA
NLB banka AD Podgorica (NLBP) is the second largest universal bank in Montenegro with total assets of EUR 772 mln as of 1H 2022 (market share of 14.1%) owned by NLB dd Ljubljana. In November 2021, NLBP completed the process of merging with Komercijalna banka Podgorica (KBP).
EBRD Finance Summary
Total Project Cost
Additionality is achieved by combining the necessary long-term financing, in the form of a senior loan, through a holistic approach which includes technical cooperation grants to support the capacity building of partner financial institutions and women-led businesses.
Environmental and Social Summary
Categorised FI (2019 ESP). NLBP will be required to implement the Environmental and Social Risk Management Procedures for Micro, SME and Corporate Lending; comply with the EBRD's Performance Requirements (PRs) 2, 4 and 9 including adherence to the expanded EBRD E&S Exclusion List and Referral List introduced with ESP 2019 and submit Annual E&S Reports to the Bank. All sub-loans will be required to comply with national environmental, health, safety and labour (EHSL) requirements. Investments into renewable energy will be required to following the appropriate EBRD Guidelines on renewables. Additionally, should the use of proceeds from EBRD investment be allocated to future solar sub-projects, the project will need to comply with the EBRD Solar Supply Chain Risk Management Approach.
Technical Cooperation and Grant Financing
FI TC: Up to EUR 2 million at the Programme level for beneficiaries under WB WiBP II, focusing on capacity building, product development, marketing and outreach support. TC funds are provided by the Governments of Sweden.
Advice for Small Business TC: Up to EUR 3.5 million at the Programme level to support women-led SMEs (including advisory services, training, mentoring and network opportunities).
Non-TC: Risk sharing in the form of First Loss Risk Cover ("FLRC") of up to 10% of the Loan (EUR 100,000), with a cap of 70% for any single sub-loan. Non-TC funds for FLRC are provided by the EBRD SSF.
Company Contact Information
+382 20 402 225
+382 20 402 061
Stanka Dragojevića 46 81000 Podgorica Montenegro
PSD last updated
09 Dec 2022
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